Public Equity Report: Day One’s PIPE, Heartseed’s Tokyo listing

Biotechs couldn’t escape a broad market selloff Friday, ceding ground as a week of few fundraising deals by public companies came to an end.

The slow pace of deals may have been a consequence of few value-driving catalysts and an empty queue for biotech IPOs on NASDAQ, although stocks in the sector fell along with the broader market’s downturn. The SPDR S&P Biotech ETF (XBI) slipped 2.3% and the NASDAQ Biotechnology Index (NBI) was down 1.7% during Friday’s session, while the NASDAQ Composite sank 2.4% and the Dow Jones Industrial Average (DJIA) was off 21.2%...